4 Things I Wish I Was Told About Money Before I Changed Careers

Or even jobs

It took a whole 5 months to get a new placement because of various reasons ranging from not having enough experience to still not enough certifications. I knew I had to go back to the drawing table but that’s by the by. The real question was who was going to cover my bills while I did all this restructuring? Not me, that’s for sure! Before I began the hunt for a new job, I made adequate preparations; took certification courses and gave my CV a face-lift naturally. My arsenal was ready for battle- or so I thought. I forgot about my finances and by month two of my job search, I was broke.

Hopefully, you’re not reading this when it is already too late. Here’s what I wish I was told about money before I changed careers;

1. Be Patient

I was in such a hurry to take-off that I was oblivious to the realities of making such a big career move. All it might have taken would have been just one volunteer job in that future role or related or one more month to prepare. The words “Had I known” floated in a circle around my head like it does in those cartoons of our childhood. I’m wiser now b-

2. Assume Nothing

My brothers and sisters, do not, I repeat, do not jump into any conclusions about the time it’ll take, what the employers are looking for, how much money you need to keep you in check before the switch is complete. Do not do any of these things unless you have made informed decisions about your move.

3. You Don’t Have To Be Completely Cut Off From Your Old Profession

This simply means that you should let the change be gradual. The mistake that I made was that I cut off abruptly. I thought that I had to have my complete focus on this new goal. I could have freelanced a few projects. I could have volunteered in some of my new prospects. Who knows, your love for your old profession might be rekindled or you might be led to your new employers or customers for your business. Bottom line, it’s okay to be in the grey area.

4. Have Two Months’ Equivalent of Your Current Salary Saved Up

With just 2 months’ equivalent in savings and of course a sprinkle of prudence, I could’ve made it financially those 5 months. I’m sure there’s a formula in there somewhere but here’s how I managed to come about it.

Using the Financial Planner From REACH, I saw how much I was expected to spend monthly based on my salary and separated out the expenses I would have incurred if I were going to the office every weekday. For me, these expenses were transportation (10%), eating out (5%) and Hair and makeup(5%). Since I didn’t have to spend heavily on these things any longer, I could’ve easily added that extra padding to my upkeep in those months of uncertainty.

If only someone had told me or if I had at least listened to those who tried to support me. Career and even job changes are a huge deal. Try not to do it alone.

If you enjoyed this story, you’re in for a treat. To see more true-life stories, tips, tricks, hacks and advice on personal finance and growing your money stick to this page.

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